This book is indispensable reading for everyone interested in current debates on institutional economics, economic policy, the crisis of the Euro, and the role of Germany in it. It assembles several master texts from the Ordoliberal School, most of which were never published in English, and provides a lucid introduction into a widely unknown “Third Way” tradition in economic theory and policy.

- Wolfgang Streeck, Max Planck Institute for the Study of Societies, Cologne,

An excellent handbook on the influential and peculiar German version of neoliberalism. It contains classical texts as well as contemporary analyses of the content and impact of ordoliberalism by leading scholars. No one can understand European politics today without knowledge about ordoliberalism. This book is a good starting point.

- Professor Peter Nedergaard, Ph.D., Department of Political Science, University of Copenhagen,

Understanding the tenets and implications of Ordoliberalism is essential for grasping what is happening in European political economy and governance today. The Birth of Austerity provides this understanding through its carefully selected and translated works by the Ordoliberals themselves and its fine ensemble of analyses by contemporary critical thinkers. The introduction by Biebricher and Vogelmann is a model of clarity and insight.  This is an important and immensely useful volume.

- Wendy Brown, Class of 1936 First Professor of Political Science, University of California, Berkeley,